Exhibit 10.25
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
This Amendment dated June 15, 2005 hereby amends the Employment Agreement
dated August 1, 2004, by and between iVoice Technology, Inc., a New Jersey
corporation (hereinafter referred to as the "Company"), having an office at 000
Xxxxxxx 00, Xxxxxxx, Xxx Xxxxxx 00000 and Xxxx Xxxxxxx, having his office at 000
Xx. 00, Xxxxxxx, XX 00000 (hereinafter referred to as the "Executive").
W I T N E S S E T H:
WHEREAS, the Company and the Executive mutually desire to amend the
Employment Agreement; and
NOW, THEREFORE, in consideration of the premises, the parties agree as
follows:
1. The Employment Agreement dated August 1, 2004 was initially executed
between the Executive and iVoice Technology, Inc., a Nevada corporation.
However, all assets and liabilities were assigned and assumed by iVoice
Technology, Inc., a New Jersey corporation. Therefore, this Amendment confirms
that both parties: (i) agree to abide by the terms of the August 1, 2004
Employment Agreement (the "Employment Agreement") and (ii) both parties agree
that all terms of the Employment Agreement are in full force and effect.
2. The Executive and the Company hereby agree that Section 3(a) of the
Employment shall be deleted in its entirety and replaced with the following:
"(a) The Executive agrees that he will serve the Company on a part-time
basis faithfully and to the best of his ability as the President and the
Chief Executive Officer of the Company, subject to the general supervision
of the Board of Directors of the Company. Executive shall be based in the
Company's offices in New Jersey."
3. The Executive and the Company hereby agree that Section 5(a) of the
Employment Agreement containing the reference to "Eighty-five Thousand Dollars
($85,000)" shall be revised to read "Forty Thousand Dollars ($40,000).
4. All other terms of the Employment Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
date written below.
iVoice Technology, Inc. Xxxx Xxxxxxx
By: /s/ Xxxxxx Xxxxxxx By: /s/ Xxxx Xxxxxxx
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Title: Chairman of the Board of Directors
Date:__________________ Date:__________________
